The Bureau of the Treasury (BTr) has fully awarded the reissued 10-year treasury bonds during yesterday’s auction amid healthy demand for the government IOUs.
With a remaining term of nine years and 11 months, the reissued securities fetched an average rate of 6.42 percent, lower than the original coupon rate of 6.625 percent set on its original issuance in August 2023.
The auction was 2.2 times oversubscribed with total tenders reaching P66.7 billion.
With its decision, the BTr raised the full program of P30 billion, bringing the total outstanding volume for the series to P60 billion.
Last Monday, the BTr fully awarded bids for the auctioned treasury bills as rates fell across all tenors.
The 91-, 182- and 364-day securities fetched average rates of 5.552 percent, 5.939 percent and 6.073 percent, respectively.
The BTr said these are all lower than previous auction results as well as when compared to secondary market rates.
The government raised the full program of P15 billion for the auction. – Angela Celis
